Global Fishing Reels Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Fishing reels are mechanical devices designed to release and retrieve fishing lines attached to fishing rods. The fishing reel controls the release and retrieval of fishing lines, allowing anglers to cast their bait or lures into the water and reel in fish.

Sizing and Forecast
The fishing reels market size has grown strongly in recent years. It will grow from $5.4 billion in 2023 to $5.73 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%.  The  growth in the historic period can be attributed to growth in recreational fishing, expansion of fishing tourism, increase in fishing tournaments, expansion of e-commerce platforms, rise in fly fishing popularity.

The fishing reels market size is expected to see strong growth in the next few years. It will grow to $7.02 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%.  The growth in the forecast period can be attributed to increased focus on lightweight design, demand for specialized reels for different species, changes in environmental conservation regulations, customization and personalization, evolution of compact and portable reels. Major trends in the forecast period include innovation in gear technology, advances in materials, technological advancements in drag systems, sustainable fishing practices, integration of smart technologies, sustainable and eco-friendly designs, integration of ai for fishing assistance.

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Segmentation & Regional Insights
The fishing reels market covered in this report is segmented –
1) By Product Type: Spinning, Spin-Cast, Fly Reel, Baitcasting, Other Products
2) By Material: Aluminum, Graphite, Stainless Steel, Other Materials
3) By Fishing Type: Freshwater Fishing, Saltwater Fishing
4) By Reel Mechanism: Anti-Reverse Reel, Direct-Drive Reel
5) By Distribution Channel: Modern Trade, Outdoor Sport Stores, Online Sales, Other Distribution Channels

North America was the largest region in the fishing reels market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the fishing reels  market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
The increasing consumption of fish is expected to propel the growth of the fishing reel market going forward. Fish consumption refers to consuming or eating fish and other seafood as part of one’s diet. Fishing reels are used in catching fish, as they are designed to facilitate the angler’s ability to hook, fight, and land fish successfully. For instance, in July 2020, according to the Organization for Economic Cooperation and Development (OECD), a US-based intergovernmental organization, 90% of fish production is anticipated to be used as food by 2029. Fish for human consumption is expected to increase by 16.3%, or an additional 25 metric tons, to 180 metric tons by 2029. Therefore, increasing fish consumption is driving the growth of the fishing reel market.

Key Industry Players
Major companies operating in the fishing reels  market report are Shimano Inc., G. Loomis, L.L.Bean Inc., Pure Fishing Inc., Weihai Guangwei Group Co. Ltd., Hardy & Greys Limited, Penn Fishing Tackle Manufacturing Co., Hatch Outdoors, E.A. Pflueger Company, Quantum Fishing, Okuma Fishing Tackle Corp., Lew’s Fishing, Sage Fly Fishing, ABU Garcia, Daiwa Corporation, Accurate Fishing, Jiuyu Fishing Tackle Co. Ltd., Avet Reels, Galvan Fly Reels, Nautilus Reels, Echo Fly Fishing, Islander Reels, Eposeidon Outdoor Adventure Inc, Lamson, Loop Tackle Design, NingBo HaiBao Fishing Tackle Co. Ltd., Ross Reels, Zebco Brands

The fishing reels market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis

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